BUKIT MERTAJAM — Prime Minister Datuk Seri Anwar Ibrahim has criticised those who politicise the hike in oil prices even though the crisis stems from international conflicts beyond Malaysia’s control.
At a time when the world faces geopolitical tensions with conflict in the Middle East, some parties continue to blame the government without considering the global reality, Bernama reports him saying.
“There are those who take advantage of this situation when the economy is declining, and oil supply is disrupted. It is not our fault, yet there are still some opposition members who hurl abuses at us in the current situation.
“The political climate must be controlled, and all parties should come together to find solutions,” he said at a Ramadan programme with Permatang Pauh community leaders at the Permatang Pasir Community Hall here, today.
Attacks on Iran by the US and Israel, and retaliatory actions, have affected oil and gas facilities and routes, including in the Strait of Hormuz, thus causing a sharp increase in global oil prices, Anwar, who is also Finance Minister, said.
He said the government continued to maintain fuel prices at a controlled level to protect the public, even as many other countries had raised prices.
The Cabinet has held a special meeting with the National Security Council (MKN) to discuss measures to address the impact on the economy and national security, he added.
Discussions have also been held with Petronas to ensure sufficient oil and gas supply, which is expected to be sustainable until May.
To cushion the impact of higher global oil prices, Malaysia will increase its gas production.
Anwar added that Malaysia has been contacted by several world leaders, including Indian Prime Minister Narendra Modi and ASEAN regional leaders, to discuss efforts to ease tensions.
He stressed Malaysia’s position as independent and neutral, but firm in championing peace and rejecting all forms of violence.
Tensions in the Middle East have escalated since Feb 28, following attacks by Israel and the United States (US) on Iran, followed by Tehran’s retaliatory strikes against US interests in Gulf countries.
The conflict has pushed global oil prices from US$60-US$65 per barrel previously, to around US$110 currently.
It caused the price of unsubsidised fuels in Malaysia to jump 80 sen per litre to RM4.72 for diesel in Peninsular Malaysia while RON97 petrol went up 70 sen per litre to RM4.55, for the week of March 19 to 25.
The fuel price hikes saw Opposition Leader Datuk Seri Hamzah Zainuddin asking the government to delay the price increase for unsubsidised fuel until after Hari Raya or to implement it in stages so as to cushion the impact on the people.
Subsidised fuel, however, remains at RM1.99 per litre for RON95 under the Budi Madani RON95 (BUDI95) initiative. – March 20, 2026